Iberdrola SA reported on Monday that it sold its French renewables business to General Electric Company (NYSE:GE), Meag and Electricite de France SA.
Iberdrola, Spain’s biggest utility, reported in the regulatory filing on Monday posted on the Spanish stock market regulator’s website that the pact is valued at 350 million Euros or $462 million, comprising the sale price, loans and debt repayments.
Iberdrola further reported without detailing the conditions that a further payment of 50 million Euros is possible.
Chairman of Iberdrola Ignacio Sanchez Galan reported in a Dec 2 interview he was discussing sales of French, German and Polish wind farms and has now reported deals in Germany and France.
Its competitors include Koninklijke Philips Electronics NV (ADR) (NYSE:PHG) that rise +1.15% to $26.33 with the total traded volume of 53,156.00 shares and Citigroup Inc (NYSE:C) that increased +0.21% to $39.09 with the total traded volume of 3.28 million shares.
Other Industrial Goods stocks with bullish trend include PulteGroup, Inc (NYSE:PHM) up +1.31% to $17.83, Hovnanian Enterprises, Inc (NYSE:HOV) up +1.79% to $6.84 and Smith & Wesson Holding Corporation (NASDAQ:SWHC) up +1.77% to $8.32, whereas with bearish trend include The Boeing Company (NYSE:BA) down -0.31% to $74.48, Waste Management, Inc (NYSE:WM) down -0.51% to $33.29 and Lockheed Martin Corporation (NYSE:LMT) down -1.01% to $90.42.
General Electric Company (NYSE:GE) after opening at $20.29 hit high price of $20.71 and then trading at $20.68 by plunging +1.18 % and on current session volume of 7.16 million shares is surprisingly lower than its average volume of 42.16 million shares.
The stock price volatility was 1.56% for a week and 1.66% for a month as well as price volatility’s Average True Range for 14 days was 0.36 and its beta remained 1.62.
The liquidity measure in recent quarter results of the company was recorded debt to equity ratio was 3.52 and long-term debt to equity ratio also remained 2.54. The Company had total cash at hand $85.46 billion and a book value per share as $11.69 in the most recent quarter.
GE generated revenue of 146.01 billion in the following twelve months and earned $14.27 billion. The Company showed a positive 9.90% in the net profit margin and as well as in its operating margin which remained 11.38%. Company’s annual sales growth for the past five year was -0.57%.
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